The European Payments Initiative (EPI) partners with local schemes to build a unified, sovereign payment ecosystem for Europe.
Highlights:
- The European Payments Initiative (EPI) aims to reduce reliance on US card schemes and Big Tech by creating a unified European payment system.
- EPI’s “Wero” wallet already serves over 40 million users and plans to expand into e-commerce and omni-channel payments by 2026.
- Collaboration with local European payment networks ensures interoperability, scalability, and cross-border functionality.
Summary: The European Payments Initiative (EPI), backed by major European banks, is taking significant steps to secure EU sovereignty in payments. By reducing dependence on US card schemes like Visa and Mastercard, as well as Big Tech players, EPI aims to establish a unified payment ecosystem designed by Europeans for Europeans.
Its “Wero” wallet, already serving over 40 million users, is set to expand into e-commerce and omni-channel payments by 2026. EPI emphasizes collaboration with local European payment networks to ensure interoperability and scalability, reinforcing its mission to build a sovereign and seamless payment infrastructure across the continent.
